Carlyle's CommScope files for IPO of up to $750 mln
Aug 2 (Reuters) - Telecommunications equipment maker CommScope Holding Co Inc, which is owned by private equity firm Carlyle Group LP, filed with U.S. regulators on Friday to raise up to $750 million in an initial public offering.
The company makes cables used in high-speed data networks and counts mobile service providers such as AT&T Inc, Verizon Communications Inc and cable network operator Comcast Corp among its customers.
CommScope, which was taken private by Carlyle in 2011 for $3.9 billion, listed J.P. Morgan, Deutsche Bank, Merrill Lynch and Pierce, Fenner & Smith as lead underwriters for the offering. ()
Sources told Reuters in July that Carlyle was looking to take CommScope public and had hired bankers for an IPO.
Hickory, North Carolina-based CommScope reported net sales of $3.49 billion for the year ended June 30. The company competes with Amphenol Corp, Emerson Electric Co and Huawei Technologies Co among others.
Network equipment makers have been benefiting from a recovery in spending by telecom service providers who are upgrading their networks to handle a surge in data traffic.
CommScope intends to list its common stock under the symbol "COMM".
The filing did not reveal how many common shares the company planned to sell and the exchange it would list its stock on.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Two killed, four wounded in Washington state school shooting
- Two U.S. states to quarantine health workers returning from Ebola zones |
- NYC police say hatchet attack by Islam convert was terrorism |
- 'We won't pay,' furious Cameron tells EU over surprise bill |